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DataDigest: Yes, buyer agents steer clients, new study claims

Housing Wire

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%.

Clients 423
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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Umpa suit is the only commission lawsuit in which Real has been named as a defendant.

Brokerage 365
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Top mega team joins The Real Brokerage

Housing Wire

Top-producing mega team PREMIERE Group is joining fast-growing firm The Real Brokerage , according to an announcement on Monday. Founded in 2017 in Greensboro, North Carolina by David Keener, the PREMIERE Group operates as a teamerage , providing agents with marketing and operations resources. Keener’s teamerage was ranked No.

Brokerage 431
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Despite industry headwinds, Real believes it can continue growing agent count

Housing Wire

With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. That means we believe a skilled agent will outperform an unskilled agent 10 to 1.

Agents 423
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New York-based Corcoran affiliate acquires independent brokerage

Housing Wire

Through this merger , Corcoran Baer & McIntosh will welcome Woodward Realty Group’s 26 agents, bringing the brokerage ’s agent count to more than 130. Corcoran Baer & McIntosh , a franchisee of Corcoran Group based in New York City , acquired New Jersey -based Woodward Realty Group , the companies announced on Wednesday.

Brokerage 298
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Redfin’s agent payment plan expands to 25 new markets

Housing Wire

Redfin is expanding its Redfin Next agent payment plan into 25 new markets starting in August 2024. Agents on the Redfin Next payment plan are W-2 employees who receive benefits, including health care, 401(k) matches, mileage, dues, technology tools and team support. Louis; and Virginia.

Agents 332
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Brokerage executives double down on their lead generation strategies

Housing Wire

With home sales still at historically low levels and uncertainty over the commission lawsuits , real estate brokerage executives prize good leads more than ever. To convert these leads into business, the brokerage developed teams — also called units — headed by captains who are successful agents with high lead conversion rates.

Brokerage 355